Europe Genetic Testing Services Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe genetic testing services market size is expected to reach US$ 3,284.96 million by 2031 from US$ 1,049.33 million in 2023. The market is estimated to record a CAGR of 15.3% from 2023 to 2031.

Executive Summary and Europe Genetic Testing Services Market Analysis:

European genetic testing services market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Genetic testing has been growing at an exceptional rate; a large panel of tests are now offered to screen a number of genetic diseases. Treatments are available for a number of rare genetic diseases, and the process is gaining importance in scenarios such as carrier testing, newborn screening, and predictive and pre-symptomatic testing, among others. Moreover, European countries have undertaken a number of initiatives to increase awareness among people about the benefits of genetic testing. The ultimate goal is to ensure that all aspects of genetic testing are of high quality, thereby providing accurate and reliable results for the benefit of the patients.

Europe Genetic Testing Services Market Strategic Insights

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Europe Genetic Testing Services Market Segmentation Analysis

Key segments that contributed to the derivation of the genetic testing services market analysis are service type, disease, and service provider.

• By service type, the genetic testing services market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening, diagnostic genetic testing, and others. The predictive testing segment held the largest share of the market in 2023. 
• By disease, the genetic testing services market is segmented into cancer, cardiovascular diseases, metabolic diseases, and other diseases. The cancer segment held the largest share of the market in 2023.
• By service provider, the genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and other service provider. The hospital-based laboratories segment held the largest share of the market in 2023.

Europe Genetic Testing Services Market Outlook

Personalized medicine is the field that utilizes patients' genetic and environmental data to deliver optimal healthcare. It is based on the principle that every patient is unique and requires individualistic pharmacological treatment. Since it is a rapidly evolving area, it is presently incorporated into several healthcare systems. The successful completion of the Human Genome Project (HGP) in 2003 and the fast-decreasing human genome sequencing costs encouraged the development of a new medical approach, which is called personalized medicine. With an expanding repository of personalized data at the molecular level, molecular diagnostics companies are exceptionally positioned to unlock value.

For instance, in Germany, personalized medicine, better known as individualized medicine (IM), has gained more attention. By the end of 2010, The German Federal Ministry of Education and Research (BMBF) named personalized medicine as one of the six priorities. It introduced the Action Plan called "Individualized Medicine." Moreover, the 100,000 Genomes Project is also strengthening the National Health Service's position as one of the most advanced healthcare systems in the world. Also, the project is consolidating the foundation for personalized medicine, and this, in turn, contributes to the genetic testing services market growth. Moreover, France also developed a national plan for personalized medicine known as "Genomic Medicine France 2025." The program was presented to Prime Minister Manuel Valls by Yves Lévy, President of the National Alliance for Life and Health Sciences—Aviesan and CEO of Inserm, in June 2016. It appeals to healthcare and manufacturing firms to pilot genomic sequencing platforms. The plan was supported by the government and launched with a public financing of US$ 760.8 million (€670 million) in 2020 for genomics and personalized medicine programs. It is expected to place France as a leader among countries involved in genomic medicine within the next ten years.

Large-scale drug discovery is a key to increasing the viability and usefulness of personalized medicines for the diagnosis of diseases and disorders. Genomics is one of the fastest-growing divisions of medical science. It is driving a paradigm shift in the research methodology of a disease, as well as diagnosing and treating illness. Genetic testing has been extensively used in pharmacogenomics, also known as drug-gene testing. It helps in accelerating drug discovery and its development.

Europe Genetic Testing Services Market Country Insights

Based on country, the Europe genetic testing services market comprises the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany held the largest share in 2023.

Medical genetics has become a vital part of clinical practice. It has provided doctors with a valued diagnostic and an analytical pre-symptomatic tool, which they can use more effectively to manage patients' diseases and even take preventive actions. As per a study titled "Awareness and Knowledge of Rare Diseases in German Dentists, Dental Specialists, and Oral and Maxillofacial Surgeons," published in 2022, rare diseases affect about four million patients in the country. Moreover, the rising prevalence of rare diseases and the development of custom-made testing kits for niche therapeutic areas, along with the adoption of genetic testing kits, are aiding the rapid growth of the market. As per Globocan 2020, ~69,697 new breast cancer cases were reported in 2020 in Germany, representing 11.1% of all registered cancer cases. It caused 20,579 fatalities, and the five-year prevalence rate of breast cancer in all ages was 707.38 per 100,000 population. Nearly 16% of women with triple-negative breast cancer carry a BRCA mutation in Germany. In 2018, the government of the country announced a strategy to include BRCA genetic testing in Germany's national cancer plan, which was initiated in 2008 with the goal of ensuring women with high genetic risk of breast cancer are legally entitled to intensified screening and risk-reducing options. The increasing focus by the government to regulate and create awareness regarding genetic tests has effectively resulted in the faster adoption of tests across the country. In Germany, noninvasive prenatal testing became available as a publicly reimbursed test in 2022. In addition, the introduction of reimbursement programs, increasing demand for efficient treatment options, and implementation of innovative technologies in research centers are expected to drive market expansion in the country. Growing awareness about the advantages of genetic testing, knowledge among healthcare professionals, and the rise in consumer spending on healthcare propels the market.

Europe Genetic Testing Services Market Report Highlights

Europe Genetic Testing Services Market Company Profiles

Some of the key players operating in the market include Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Ambry Genetics Corp, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, Centogene NV, Ancestry Genomics Inc, Gene By Gene Ltd, SIVOTEC BioInformatics LLC, Progenesis, Fulgent Genetics, Inc, VERITAS INTERCONTINENTAL, and GeneDx, LLC among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Europe Genetic Testing Services Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Europe Genetic Testing Services Market Country and Regional Insights